BMW cuts 26,000 workers, may apply for state aid
The world's largest luxury automaker may also be looking for loan guarantees from the German government. Reuters is reporting that BMW is looking to follow Volkswagen in securing its debt to help weather the auto sales tsunami. Volkswagen, which is reducing hours for 86,000 of its workers, requested financial support in December. Something tells us the German government won't ask BMW brass to take any tongue lashings in order to be considered for loans.
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